Turkish (BIST) Insurance Industry Analysis

Industry Valuation and Performance

Has the Turkish Insurance Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 14 Jun 2026	₺316.6b	₺330.7b	₺55.2b	6.3x	5.7x	1x
Tue, 12 May 2026	₺347.8b	₺326.9b	₺54.7b	7.3x	6.4x	1.1x
Thu, 09 Apr 2026	₺315.0b	₺305.3b	₺50.7b	7x	6.2x	1x
Sat, 07 Mar 2026	₺305.4b	₺305.3b	₺50.7b	6.6x	6x	1x
Mon, 02 Feb 2026	₺327.5b	₺285.6b	₺49.2b	7.6x	6.7x	1.1x
Wed, 31 Dec 2025	₺282.4b	₺274.6b	₺47.3b	6.6x	6x	1x
Fri, 28 Nov 2025	₺297.6b	₺274.6b	₺47.3b	6.9x	6.3x	1.1x
Sun, 26 Oct 2025	₺295.1b	₺265.5b	₺45.1b	7.3x	6.5x	1.1x
Tue, 23 Sep 2025	₺261.2b	₺242.1b	₺40.0b	7.7x	6.5x	1.1x
Thu, 21 Aug 2025	₺266.7b	₺242.1b	₺40.0b	7.5x	6.7x	1.1x
Sat, 19 Jul 2025	₺250.8b	₺213.1b	₺36.3b	7.3x	6.9x	1.2x
Mon, 16 Jun 2025	₺222.1b	₺210.6b	₺36.2b	6.4x	6.1x	1.1x
Wed, 14 May 2025	₺245.2b	₺210.4b	₺36.1b	7.1x	6.8x	1.2x
Fri, 11 Apr 2025	₺242.6b	₺191.5b	₺35.4b	7.3x	6.9x	1.3x
Sun, 09 Mar 2025	₺279.5b	₺188.9b	₺34.9b	8.5x	8x	1.5x
Tue, 04 Feb 2025	₺303.4b	₺175.4b	₺31.2b	9.2x	9.7x	1.7x
Thu, 02 Jan 2025	₺316.5b	₺168.5b	₺29.2b	10.2x	10.8x	1.9x
Sat, 30 Nov 2024	₺268.9b	₺168.5b	₺29.2b	8.5x	9.2x	1.6x
Mon, 28 Oct 2024	₺234.7b	₺165.2b	₺28.2b	8.8x	8.3x	1.4x
Wed, 25 Sep 2024	₺255.5b	₺148.7b	₺27.3b	9.7x	9.4x	1.7x
Fri, 23 Aug 2024	₺260.3b	₺148.7b	₺27.3b	9x	9.5x	1.8x
Sun, 21 Jul 2024	₺296.0b	₺133.1b	₺26.9b	9.9x	11x	2.2x
Tue, 18 Jun 2024	₺340.7b	₺133.1b	₺26.9b	11x	12.7x	2.6x
Thu, 16 May 2024	₺252.6b	₺113.9b	₺25.0b	9.1x	10.1x	2.2x
Sat, 13 Apr 2024	₺232.3b	₺107.1b	₺18.9b	9.8x	12.3x	2.2x
Mon, 11 Mar 2024	₺204.8b	₺107.1b	₺18.9b	8.8x	10.8x	1.9x
Wed, 07 Feb 2024	₺183.2b	₺92.3b	₺17.8b	9.8x	10.3x	2x
Fri, 05 Jan 2024	₺156.2b	₺92.4b	₺17.8b	8.4x	8.8x	1.7x
Sun, 03 Dec 2023	₺143.8b	₺92.4b	₺17.8b	8x	8.1x	1.6x
Tue, 31 Oct 2023	₺140.3b	₺82.4b	₺14.9b	9.5x	9.4x	1.7x
Thu, 28 Sep 2023	₺129.7b	₺76.2b	₺12.5b	11.5x	10.4x	1.7x
Sat, 26 Aug 2023	₺93.9b	₺76.2b	₺12.5b	8.8x	7.5x	1.2x
Mon, 24 Jul 2023	₺59.7b	₺56.6b	₺5.2b	12.7x	11.6x	1.1x
Wed, 21 Jun 2023	₺42.2b	₺56.6b	₺5.2b	9.1x	8.2x	0.7x

Current Industry PE

Investors are pessimistic on the Turkish Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 5.7x which is lower than its 3-year average PE of 8.7x.

The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 0.96x.

Past Earnings Growth

The earnings for companies in the Insurance industry have grown 120% per year over the last three years.
Revenues for these companies have grown 80% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Turkish Financials industry?


TR Market	0.85%
Financials	4.01%
Insurance	2.27%
Property and Casualty Insurance	4.14%
Life and Health Insurance	2.42%
General Insurance	0.78%

Industry PE

Investors are most optimistic about the Life and Health Insurance industry even though it's trading below its 3-year average PE ratio of 9.1x.

It looks like they are confident that earnings will grow faster in the future than they have historically.

Investors are most pessimistic about the Property and Casualty Insurance industry, which is trading below its 3-year average of 9.8x.

Forecasted Growth

Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 15% over the next 5 years.
However this is lower than its past earnings growth rate of 55% per year.

In contrast, the Property and Casualty Insurance industry is expected to see its earnings grow by 9.3% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
AGESA AgeSA Hayat ve Emeklilik Anonim Sirketi	₺250.25	6.1% +₺2.6b	70.2%	PE7.3x
RAYSG Ray Sigorta Anonim Sirketi	₺197.10	8.3% +₺2.5b	-12.2%	PE8.4x
ANSGR Anadolu Anonim Türk Sigorta Sirketi	₺27.92	3.1% +₺1.7b	33.8%	PE3.7x
TURSG Türkiye Sigorta	₺12.89	0.8% +₺1.0b	66.8%	PE6x

Company

Last Price

Valuation

AGESA AgeSA Hayat ve Emeklilik Anonim Sirketi

₺250.25

6.1%
+₺2.6b

70.2%

PE7.3x

RAYSG Ray Sigorta Anonim Sirketi

₺197.10

8.3%
+₺2.5b

-12.2%

PE8.4x

ANSGR Anadolu Anonim Türk Sigorta Sirketi

₺27.92

3.1%
+₺1.7b

33.8%

PE3.7x

TURSG Türkiye Sigorta

₺12.89

0.8%
+₺1.0b

66.8%

PE6x

New major risk - Shareholder dilution

The company's shareholders have been substantially diluted in the past year. Over 98x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (over 98x increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 11x cash flows per share).

Turkish (BIST) Insurance Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Investor sentiment deteriorates as stock falls 18%

New major risk - Shareholder dilution

First quarter 2026 earnings released: EPS: ₺5.59 (vs ₺4.98 in 1Q 2025)

Anadolu Anonim Türk Sigorta Sirketi to Report Q1, 2026 Results on Apr 29, 2026

First quarter 2026 earnings released

Upcoming dividend of ₺8.14 per share